The Wealthy In Canada Are NOT Cheating You

[Anonymous]

Speaking of discounting WCS, the dippers are responsible for that too because we are the only major producer that does not have access to tide water.

https://scontent-sea1-1.xx.fbcdn.net/hphotos-xfa1/v/t1.0-9/12239732_1619983124918849_3693681922666529048_n.png?oh=17ac846db5b62e3b2937f66ace84fade&oe=5700B6A6">

Oh yeah Rohammad, the barista and social workers of the dippers war on Alberta's economy is really helping the middle class.

[Romero]

Oil prices bad news for slowing Saskatchewan oil sector



Another drop in oil prices isn't doing any good for the currently sluggish Saskatchewan oil industry.



Oil prices dropped to a six year low this week, prompting more concern for those involved with the oil sector.



Last year, there were 83 drills operating in the province. This year the number of rigs is down to 31, which is less than half.



The low oil prices are coming back to impact the consumer, according to Greg Poelzer, executive chair for the International Centre for Northern Governance and Development.



"You're going to see layoffs in the oil sector. They've already begun, and those are likely to continue for the foreseeable future," Poelzer said.



As for the severity of the slump, Zinchuk says it's the length of it rather than depth that's a concern. He says that although it's been almost a year since oil prices started dropping, there is no end in sight.



"It's looking like it's going to be going down before it goes up."



​Zinchuk said the people he's spoken to in the industry haven't seen such hard times since 1986, when some of them nearly lost their business.



"A lot of them are telling me know that this is starting to look like the 1980s," he said.



Still, Zinchuk is confident the industry will recover, but that doesn't mean the province will come out financially unscathed in the short-term.



Poelzer agrees, saying if oil drop below $40 per barrel, it could greatly reduce provincial government revenues.



http://www.cbc.ca/news/canada/saskatchewan/oil-prices-bad-news-for-slowing-saskatchewan-oil-sector-1.3198350">//http://www.cbc.ca/news/canada/saskatchewan/oil-prices-bad-news-for-slowing-saskatchewan-oil-sector-1.3198350

You of all people should know that the low price of oil is the main problem. It's the main problem for every oil producing region.

[Anonymous]

Romero, the numbers in that article mean nothing. They were comparing peak season rig count with spring break up.



These numbers have been scaled back for all provinces, but they came out about the same time as your link.

http://www.leaderpost.com/business/Saskatchewan+drilling+outlook+improves+slightly/11255649/story.html">http://www.leaderpost.com/business/Sask ... story.html">http://www.leaderpost.com/business/Saskatchewan+drilling+outlook+improves+slightly/11255649/story.html

Provincially, PSAC projects 2,839 wells to be drilled in Alberta, down 50 per cent from the 5,740 wells in PSAC's October 2014 forecast. Manitoba is forecasted to drill 251 wells, down by 179 wells from the October forecast, while British Columbia's count has increased slightly to 559 from 555 forecast initially.



Better performance in Saskatchewan, where top-performing producers were in a position to take advantage of lower overall service and completion costs, was balanced by a drop in Alberta where a lot of uncertainty has added to the chill from the oil price shock," adds Salkeld



While not mentioned specifically in the report, Crescent Point, Saskatchewan's largest oil producer, announced in March it planned to spend $1 billion of its $1.45-billion 2015 capital budget in the province. Crescent Point budgeted $400 million to drill 184 wells in the Viewfield-Bakken area in the southeast, $300 million to drill 110 wells in the Shaunavon area in the southwest and $190 million drilling 45 wells at Flat Lake, also in the southeast

Alberta's government is making things worse.



Alberta drilling rig count decline linked to NDP's royalty review

http://calgaryherald.com/business/energy/alberta-drilling-rig-count-decline-linked-to-ndps-royalty-review">http://calgaryherald.com/business/energ ... lty-review">http://calgaryherald.com/business/energy/alberta-drilling-rig-count-decline-linked-to-ndps-royalty-review

[Romero]

Gee, I would have never imagined that Alberta's royalty review was somehow responsible for problems in Saskatchewan and the rest of the world.

Amid the corn and canola fields of eastern Saskatchewan, oil foreman Dwayne Roy is doing what Saudi Arabia and fellow OPEC producers are loath to do: shutting the taps on active wells.



Inside a six-foot-square wooden shed that houses a basic hydraulic pump, the Gear Energy Ltd employee demonstrates how shutting down a conventional heavy oil well in this lesser-known Canadian oil patch is as simple as flipping a switch. His company has already done so hundreds of times this year, making the Lloydminster industry among the first in the world to yield in a global battle for oil market share that has sent crude prices tumbling to six-year lows.



"We ask every day: is this well making money today? Will it make us money going forward?" says Roy.



Such questions have been nagging oil industry veterans since crude prices started sliding last year as a result of a supply glut caused by a battle between exporters' group OPEC and North American shale oil producers.



Energy firms around the world have responded by laying off thousands of workers and slashing spending by billions of dollars. But producers here are the first to do what the global market needs to rebalance: turn off the taps.



Some producers in the North Sea are also starting to shut older fields earlier than planned, and thousands of small U.S. "stripper well" operators may follow suit.



http://www.bnn.ca/News/2015/9/8/In-Canadas-prairies-crude-slump-puts-first-oil-patch-in-reverse.aspx">//http://www.bnn.ca/News/2015/9/8/In-Canadas-prairies-crude-slump-puts-first-oil-patch-in-reverse.aspx

The global oversupply of oil has gotten so severe that the billionaire Koch brothers are offering to "buy" it at minus-50 cents per barrel.



In essence, they are asking sellers to pay them to take the crude off their hands.



Economists blame the oversupply on years of high oil prices that resulted in heavy investment in new oil fields. The expansion of Canada's oilsands and the development of the U.S.'s shale oil fields were two of the largest contributors.



http://www.huffingtonpost.ca/2016/01/18/negative-oil-price-oil-glut-oversupply_n_9009682.html?utm_hp_ref=canada">//http://www.huffingtonpost.ca/2016/01/18/negative-oil-price-oil-glut-oversupply_n_9009682.html?utm_hp_ref=canada

[Anonymous]

Herm only has 30 years of upstream industry experience vs. Rohammad's 30 second googling of an old article about an industry he doesn't know the first thing about.



Tell me how this is helping a depressed industry and working Albertans.

https://scontent-sea1-1.xx.fbcdn.net/hphotos-xpa1/v/t1.0-9/11988717_1606228536294308_6186226351137785059_n.jpg?oh=bccb6122fa1794917e569d03cfc53493&oe=5736056E">



or this

https://scontent-sea1-1.xx.fbcdn.net/hphotos-xaf1/v/t1.0-9/10151243_1600656073518221_5675762395672210511_n.jpg?oh=3fa98ab9d1579f63be7aec797829baef&oe=573A39CA">



This is what industry has to say about Notley's destructive job killing policies

https://scontent-sea1-1.xx.fbcdn.net/hphotos-xpt1/v/t1.0-9/12219627_1622074851376343_1296725257802173357_n.jpg?oh=57b07572f1b006de869be460f48bea7d&oe=57495D96">



The NDP's job killing policies in action.

CNRL blames $405-million loss on Alberta tax increases

$579-million after the provincial government raised corporate taxes to 12% from 10% on July 1. As a result, the company recorded a second-quarter net loss of $405 million, compared with a profit of $1.07 billion a year earlier.



Although CNRL is suffering from last year's crash in global oil prices, the company argues the sudden tax increase played a major part in last quarter's loss, estimating that net earnings would have been $174 million had the changes in Alberta's tax structure not happened.

http://www.fortmcmurraytoday.com/2015/08/06/cnrl-blames-405-million-loss-on-alberta-tax-increases">http://www.fortmcmurraytoday.com/2015/0 ... -increases">http://www.fortmcmurraytoday.com/2015/08/06/cnrl-blames-405-million-loss-on-alberta-tax-increases

Meanwhile, what little investment money is available is showing it's lack of faith in these inept destructive baristas, students and social workers.

Husky is currently constructing 3 new steam-assisted gravity drainage (SAGD) facilities in Saskatchewan, the source said, "basically across the provincial border from Alberta due to the political regime in Alberta. Alberta is no longer interested in oil and gas development." The projects are the Rush Lake project and the Edam East and Edam West SAGD projects, located nearby.



The government of Saskatchewan recognizes "the need for economics that provided a steady business climate, level tax base for business and jobs and wealth for the residents to pay taxes for the services we all require." This bodes well for Saskatchewan, even as Alberta, according to the source, is unresponsive to the oil and gas industry and the low prices that are hurting it.

http://oilpro.com/post/21484/exclusive-">http://oilpro.com/post/21484/exclusive- ... oduction-d

[Anonymous]

I am so tired of reading about class envy in this country..



First they came for the business class, next it was risk takers, then they came for the professional medical class and now they have well paid skilled tradespeople in their sights..



When they come for you, who will be left to object.

You should be getting tired of it. We two had 2 elections in 2015 that were won by scapegoating people like you and I. Nothead promised she would have a balanced budget by her last year by forcing upper middle class and companies to pay more and she lied. True Dope promised he could pay for a small tax cut on people earning $45-90k/year with a larger tax increase on the wealthy(upper middle class). Of course he lied too. In the end, nobody is better off and in fact we are all worse off. This kind of divisive politics is more destructive than anything Donald Trump has ever said.

[RW]

Class envy.  Funny. This post was inspired by a post by Romero that said 62 people are as rich as the poorest 3.5 billion in the world combined.  That's not class envy Fash. That's a sad reality.



It's interesting how you use the word envy rather than the word greed.

[RW]

Shen, did you really cite political propaganda on the previous page to refute an argument?  Did that really happen or am I drunk on cough medicine?

[Anonymous]

I am so tired of reading about class envy in this country..



First they came for the business class, next it was risk takers, then they came for the professional medical class and now they have well paid skilled tradespeople in their sights..



When they come for you, who will be left to object.

You should be getting tired of it. We two had 2 elections in 2015 that were won by scapegoating people like you and I. Nothead promised she would have a balanced budget by her last year by forcing upper middle class and companies to pay more and she lied. True Dope promised he could pay for a small tax cut on people earning $45-90k/year with a larger tax increase on the wealthy(upper middle class). Of course he lied too. In the end, nobody is better off and in fact we are all worse off. This kind of divisive politics is more destructive than anything Donald Trump has ever said.

I can't believe that people that earn $200 grand or more a year are now villains. Parents should adjust how they talk to their kids accordingly. Get a good education and be successful. But not too successful though. Once you make $199,999 call it a year. A dollar more than that and you are hoarding, not paying your fair share and your success has come at the expense of those at the bottom. What a non sequitur.

[J0E]

Perhaps overtaxing the rich isn't the solution, but rather making better & more efficient use of their tax dollars. Sure tax them, but give them incentives to create wealth for the local economy rather than encouraging them to ship their money overseas. In other words, reward them if they build a community centre, invest in social programs for their employees and contribute to programs which would otherwise have to be funded by the government and the taxpayers. Tax cuts for job creation. Tax cuts/tax credits if they invest locally. None for them or tax hikes if they ship the money overseas. Trudeau has to incentivize the tax cuts rather than raising taxes across the board with nothing to offer them in return.

[easter bunny]

My dad had a saying: How many steaks can a rich man eat for dinner in a week?  



If you distributed even a small chunk of that kind of wealth, how many steaks would be bought?  How would that drive the economy?



I don't care about this left and right smokescreen.  What I want to know, is what does someone with personal wealth in the billions do for the economy?



The article Ro posted was NOT about people making six figures either.  It's not about having a decent paying job.  It's about excessive wealth.

You're gonna love this..

[Anonymous]

^I read that on the Mic this morning and I knew Rohammad would be copy and pasting it, which he did. What has been the reaction on Canada by the Liberals and Alberta NDP? Raise taxes on upper middle class. There is not enough Justin Biebers in this country to fleece to they had to set their sites on broader targets. The doctors and engineers tax. It has been the perfect solution to a problem that didn't exist.

[Anonymous]

I was wondering about this earlier, but I didn't say anything because I was in a hurry..



Should we really believe what Oxfam claims without hesitation?



http://www.snouts-in-the-trough.com/archives/10847">http://www.snouts-in-the-trough.com/archives/10847

Don't believe self-serving Oxfam's lies



I have to leave early for London today, so I'll just briefly expose Oxfam's lies about how they really use our money.



Oxfam claim that £8.40 of every £10 we give them goes to "saving lives". This is a lie.



Here's what really happens to our money



http://www.snouts-in-the-trough.com/wp-content/uploads/2014/10/Charity-B.jpg">



Oxfam raises about £385.5m a year. It spends about £90.6m running its shops and fundraising. That leaves £294.9m (£7.60 for every £10 raised) for "saving lives".



But Oxfam spends about £31.9m of this on administration and governance. That leaves £263m (£6.80 for every £10 raised) for saving lives.



Of the £263m left, Oxfam gives over £90m of this to other charities. As they will also have administration and management costs of about 20%, then that's another £18m lost to overhead costs leaving just £244.9m (£6.35 for every £10 raised) for supposedly "saving lives.



Finally, depending on the Third World country where Oxfam operates, between one third and two thirds of all money used will be lost to waste, incompetence and corruption.



So, Oxfam's claim that £8.40 of every £10 raised is spent "saving lives" is a brazen lie and you should not be fooled into giving them your money until Oxfam honestly tells us what they really do with our £385.5m a year.

[Anonymous]

^HAHA, too fucking funny. EB and Rohammad will blindly accept anything provided it shows that companies bad and thos bad greedy rich folk.  ac_toofunny  ac_lmfao

[Anonymous]

^HAHA, too fucking funny. EB and Rohammad will blindly accept anything provided it shows that companies bad and thos bad greedy rich folk.  ac_toofunny  ac_lmfao

No no, please don't misunderstand what I am saying..



The Oxfam link may be true, I don't know..



But, I have read some very negative things about Oxfam..



That raises some red flags for me, that's all.